WECOYA acquires Italian MGA LITUS
WECOYA strengthens its dominant position in Marine Underwriting through the acquisition of Italian Managing General Agent (MGA) LITUS.
- The acquisition of LITUS enhances WECOYA's portfolio both geographically and in terms of expertise.
- LITUS’ operations and innovative approach align perfectly with WECOYA’s strategic vision.
- Both management teams express enthusiasm about joined future growth and significant synergies.
Milan/Hamburg, 10 January 2025 – WECOYA UNDERWRITING GmbH has announced the acquisition of LITUS srl, an Italian independent MGA specializing in Marine and Cargo coverage. This strategic acquisition solidifies WECOYA's already dominant position in the Marine Underwriting Line, expanding its reach and expertise in key markets.
LITUS, headquartered in Milan, Italy, is renowned for providing specialized insurance solutions tailored to the needs of freight forwarders, logistics operators, port terminals, and carriers, operating as an independent MGA with extensive autonomy in offering coverage and managing claims. LITUS delivers specifically adapted solutions with a customer-centric approach by leveraging expertise acquired through partnerships with leading international insurers such as Lloyd's Insurance Company S.A., Tokio Marine Europe S.A., and MS Amlin Marine NV.
Furthermore, its innovative approach, particularly in the Insurtech space, offers eCommerce platforms seamless integration and enhanced risk management capabilities through the "Merchant Platform" model and "Open Insurance" solutions.
“We are thrilled to welcome LITUS into the WECOYA family,”
says Tim Lamm, Managing Director of WECOYA UNDERWRITING GmbH. “LITUS’ strong expertise in Marine Cargo and its innovative, customer-focused approach complement our existing operations perfectly, both geographically and strategically.”
Nicola Larizza, CEO of LITUS srl, shares similar enthusiasm: “Becoming part of WECOYA’s dynamic and fast-growing organization is an incredible opportunity for our team. WECOYA’s resources and global reach will allow us to continue delivering tailor-made solutions while reaching new heights in the industry.”
This acquisition is expected to unlock new opportunities for growth as WECOYA continues to expand its offerings and strengthen its market leadership in Marine Underwriting. With LITUS’ innovative platforms, customer-driven approach, and experienced team, the integration promises significant benefits for brokers, intermediaries, and clients.
About WECOYA:
The WECOYA UNDERWRITING GmbH is a subsidiary of the GGW Group GmbH. It consolidates its MGA activities across the following lines: WECOYA MARINE, WECOYA PRIVATE & COMMERCIAL, WECOYA MOBILITY, WECOYA CEE, WECOYA SERVICES & CLAIMS, and WECOYA NORDICS & BALTICS. Operating from locations in Germany, Austria, Denmark, and Turkey, WECOYA handles risk assessment, the development of coverage concepts, and the issuance of binding quotes on behalf of its clients. Additionally, WECOYA manages the drafting and signing of insurance certificates and contracts, as well as the complete claims handling process and settlement on behalf of insurers.
Press contact:
Nadja Benz
E-Mail: nadja.benz@ggwgroup.de